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Wednesday, 05 August 15
SHIPPING MARKET INSIGHT - KATERINA RESTIS
 On July 14th, 2015 a historical consensus was reached in Vienna between Iran and the five permanent members of the U.N. Security Council, plus Germany (P5+1), to eliminate Tehran’s nuclear program in return for lifting international oil and financial sanctions. The US-Iran deal is the most important breakthrough in their bilateral relationship since 1979, when the Iranian revolution disturbed their relations. In particular, Iran has agreed not to produce any plutonium enriched weapons and additional heavy water reactors for 15 years. The assurance that Iran is satisfying the deal’s commitments will be granted through an extensive UN inspection and observation under the International Atomic Energy Agency (IAEA). It is discussed that assessments and transparency measures may remain in place for as long as 25 years. Expressly, President Obama stated that “this relief will be phased in. Iran must complete key nuclear steps before it begins to receive sanctions relief.”
The markets are already looking towards the challenges, options and prospects that will emerge with the deal being signed. Notably, oil prices fell due to investors’ expectations of an increase in oil exports from Iran to an already oversupplied market. It is estimated that Iran could supply an extra 200k-400k bpd of crude in 2016 on top of a release of 20-40 million barrels from floating storage. The NIOC Managing Director states that if there is enough demand, it is estimated that production could increase by 500k-600k bpd reaching its pre-sanctions level of 4 million bpd within 6 to 12 months. Furthermore, China’s economy is witnessing a growth slow down, while global oil production is close to record highs and thus traders weigh the risk of oil prices possibly falling further.
Furthermore, the agreement will gradually benefit companies that transport Iranian Oil. Once the EU ban on insuring tankers carrying Iranian crude is lifted, imports to countries such as India and Turkey will be comforted and will promote the purchase of contracted volumes. Iran has traditionally been India’s second-largest supplier of crude oil and the prospect of lifting sanctions will also facilitate Pakistan to complete the Iran-Pakistan pipeline. Moreover, it would again be legal for P&I insurance clubs and companies that cover shipowners for several risks to insure Iranian oil cargoes.
Likewise, it is estimated that lifting petrochemical sanctions will permit $1 billion in exports for Iran. The increase in Iranian supplies of oil and gas would trickle down to Europe’s chemical industry, creating a potential game changer for energy-intensive businesses. A traditional player is coming back into the market and preeminently needs to sell, therefore chemical plants of Europe will definitely benefit. Energy companies from Royal Dutch Shell to BP commented after the deal was signed that they were examining their options in a post-sanctions Iran, where production and export potential could expand with the appropriate investment strategies.
Decades of sanctions have inevitably affected the local population and Iranian political setup. With the prospect of sanctions being lifted, Iran’s economic potential will allow for numerous opportunities not only for Iran but also for the wider region, which will directly translate into an increased influence in the Middle East. More importantly, the deal will have some prompt and long-term influence both on global and regional level. The deal will bring out Iran from international isolation. Nevertheless, Iran will have to wait for almost a year to yield the financial returns of the deal, while the six major world powers will most probably reap the benefits of the lower cost of oil immediately.
By Katerina Restis
Tanker Chartering
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms. Eva Tzima
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no re-producing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Wednesday, 01 April 15
SUPRAMAX & HANDY: RATES HELD STEADY TOWARDS THE WEEKEND
“Despite the fact that the Dry Bulk market closed off on the green last week, sentiment didn't improve by any means, not only because of ...
Wednesday, 01 April 15
WEEKLY SHIPPING MARKET UPDATE - INTERMODAL
There is no doubt that we are still witnessing a very challenging and at the same time very uncertain market, both with respect to dry chartering a ...
Wednesday, 01 April 15
Q4' 15 INDONESIA COAL SWAP CLOSED AT $45.15 W/E 27 MARCH 2015
COALspot.com: Indonesian coal swap for delivery Q2' 2015 drops month on month and week over week.
The Q2 swap declined US$ 1.54 (3.24%) mo ...
Tuesday, 31 March 15
RICHARDS BAY COAL SWAPS GAIN WEEK OVER WEEK
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 declined month over month but increased week on week.
The Q2 swap has ...
Monday, 30 March 15
WORST IS OVER FOR THE DRY BULK MARKET, BUT THE PAIN WILL REMAIN FOR YEARS TO COME, SAYS BIMCO CHIEF ANALYST - HELLENIC SHIPPING
The current demise of the dry bulk market isn’t one to go away anytime soon. That doesn’t mean that it can’t improve, with all sh ...
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- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- PTC India Limited - India
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- The University of Queensland
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- London Commodity Brokers - England
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
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